CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Acquires 38,000 Shares of Entergy Corporation $ETR

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in Entergy Corporation (NYSE:ETR) by 152.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,000 shares of the utilities provider’s stock after acquiring an additional 38,000 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Entergy were worth $5,871,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mattson Financial Services LLC raised its holdings in Entergy by 100.0% during the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 150 shares during the last quarter. Atwood & Palmer Inc. raised its holdings in Entergy by 135.7% in the second quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 190 shares during the period. Capital A Wealth Management LLC lifted its holdings in Entergy by 5,466.7% during the second quarter. Capital A Wealth Management LLC now owns 334 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 328 shares in the last quarter. GoalVest Advisory LLC lifted its holdings in shares of Entergy by 5,733.3% during the 2nd quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 344 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in Entergy in the second quarter valued at approximately $30,000. Institutional investors own 88.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on ETR shares. Evercore ISI upped their price objective on Entergy from $98.00 to $101.00 and gave the stock an “in-line” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. cut their price target on shares of Entergy from $113.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, December 11th. Barclays set a $100.00 target price on shares of Entergy and gave the stock an “overweight” rating in a report on Monday, October 6th. Mizuho upped their price objective on Entergy from $97.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Finally, Citigroup increased their target price on shares of Entergy from $91.00 to $106.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 18th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Entergy presently has an average rating of “Moderate Buy” and a consensus target price of $103.09.

Entergy Price Performance

Shares of NYSE:ETR opened at $93.40 on Wednesday. The firm has a 50 day moving average of $94.60 and a 200-day moving average of $90.62. Entergy Corporation has a 12 month low of $74.77 and a 12 month high of $98.58. The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $41.71 billion, a PE ratio of 23.06, a PEG ratio of 2.34 and a beta of 0.62.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter. Entergy had a net margin of 14.26% and a return on equity of 11.53%. The business had revenue of $2.37 billion for the quarter. On average, equities research analysts predict that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Thursday, November 13th were issued a dividend of $0.64 per share. This is an increase from Entergy’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.7%. Entergy’s payout ratio is presently 63.21%.

Insider Buying and Selling

In related news, Director Ralph Lewis Ropp bought 1,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was purchased at an average price of $96.69 per share, with a total value of $96,690.00. Following the completion of the acquisition, the director owned 1,050 shares of the company’s stock, valued at $101,524.50. The trade was a 2,000.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Haley Fisackerly sold 5,136 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $96.50, for a total transaction of $495,624.00. Following the completion of the sale, the insider owned 7,899 shares in the company, valued at approximately $762,253.50. The trade was a 39.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,179 shares of company stock worth $981,707 in the last ninety days. 0.47% of the stock is owned by insiders.

Entergy Profile

Entergy Corporation (NYSE:ETR) is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company’s operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy’s generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.

Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.